BlackRock California Municipal Income Trust Plans Monthly Dividend of $0.06 (NYSE:BFZ)

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Thursday, January 2nd,NASDAQ Dividends reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.059 per share on Monday, February 3rd. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Wednesday, January 15th.

BlackRock California Municipal Income Trust has raised its dividend payment by an average of 1.4% per year over the last three years.

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ traded down $0.01 on Friday, reaching $11.36. 66,888 shares of the stock traded hands, compared to its average volume of 56,794. The stock’s 50-day moving average price is $11.58 and its 200-day moving average price is $11.85. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $11.82, for a total value of $358,063.26. Following the sale, the insider now directly owns 5,200,088 shares in the company, valued at approximately $61,465,040.16. This represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

BlackRock California Municipal Income Trust Company Profile

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.